Rise of ETFs Poses Threat
To Vulnerable Closed-Ends

It seems few others want the shares of closed-end funds, so some of these investment vehicles are buying back their own stock.

As 2000 drew to a close, Jardine Fleming China Region Fund issued a tender for 30% of its own shares, and France Growth Fund voted to begin a self-tender offer. Another half-dozen funds have standing programs to purchase their stock, says Al Blomquist, who writes a newsletter on closed-end funds, and still...